Latest Car News in India

Tuesday, October 11, 2011

By Pranjal Gera

Want car on lease? How about leasing Mercedes Benz

Have you ever dreamt of getting a premium luxury car on lease? If the answer is yes, then your dream will be accomplished by Mercedes Benz.

The Germany based premium luxury automobile producer; Mercedes Benz has come up with a one-of-its-kind concept to lease its cars in India. The step is being taken to magnetize the entry-level luxury consumer and start its used car business in the country.

The Managing Director and Chief Executive Officer- Mr. Peter Honegg said that Indian consumer’s tendency is to own a car than to rent it and right now no other car maker in the luxury segment presents such facility directly to the car buyers.

The lease layout of vehicles works the following way. A car dealer purchases cars from the company and let out them to consumers for a specific period. One of the other choices available to the car dealer is that he can purchase pre-owned vehicles from the market, renovate them and lease them to car buyers. When the lease duration ends up the car dealer takes the vehicles back. The business outline and market study are under construction, according to Mr. Honegg. He was in Chennai for the opening of company’s new dealership Transcar India Private Limited.

He added that Mercedes Benz is confident to attract consumers looking to purchase luxury cars costing below INR 20 Lakhs. Primarily the leasing of cars will begin in cities like Mumbai, Delhi, Kolkata and Pune, but refused to provide any tentative dates of this commencement.

The German marquee sold 5600 units last year and it targets to sell over 7000 units in the current year. Looking at the ongoing trend the company plans to launch diesel variants on its present models. As per Mr. Honegg, around 40 percent of Mercedes Benz cars that are sold nationwide are diesel run versions.

Comments (1)


Wednesday, October 19, 2011

what is the process of car on lease?

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